I have a website which generates some $$. I get paid in USD and the money is sitting in a worldfirst account.
The dollar has fallen a lot in the past 6 months. Should I let sit in the worldfirst account or pull it out in AUD?
Got some USD, hold or sell?
bes44 on 10/06/2021 - 13:27
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Get a US share trading account and put into global share index. A bit of a hedge against fall in USD. Then there is the risk of stock market falling.
Alternatively buy ADRs of Australian companies like Comm Bank (CMWAY) defacto hedge.
How much are we talking here?
And what kind of website?
The DXY is printing a massive double top on the monthly chart. It will be game over for the USD when it breaks 88.
Bad for Americans but great for the rest of the world.
Are you paying taxes in the US or here?
USD? Is that another scam coin?
27 trillion in circulation, unlimited supply cap, only 1 node, 25% of supply minted in the last 60 months and 1% of holders own 30%
I think dogecoin sounds more secure. :)
The USD is backed up by the NSA, CIA, FBI, DHS, USMC and a dozen more 3/4 letter gangs.
Don't be surprised if the President of El Salvador is found dead by suicide in a few weeks.
Apparently Ecuador and Mexico are looking to go the same way with regards to BTC which is good news.
On the other hand all the sith lords behind the central bank ponzi scheme are trying to stuff things up until their own CDBC's are ready to go. After that cryptocurrency will be the bestest thing ever (their centralised cryptos of course all under govt. control.) but not decentralised ones. Can't have the landless peasants getting any freedom now. On the other other hand the instos are started to manipulate BTC the way they've been running the other markets for years, so who knows?
Buy from places like AliExpress? It's where my excess USD often ends up
Obviously don't take this as financial advice as who knows what going to happen.. and im not a financial analyst..
But a part of my job involves monitoring the situation of the AUD/USD FX, and essentially buy future contracts to reduce risk.
Basically I believe the FX rate will slowly creep towards 0.85 over the next year or two before starting to come back down.Current commodity prices support this particular movement, for this reason its unlikely to go down in the short term.
So to answer your question, I would say sell the USD now before it gets worse.
Do you still have the same sentiment currently?
LOL. Yes i still back it. Short term it'll be bad whilst the country is in lockdown and our economy is complete trash. When we open up it should head up towards if not into the 80s. But again, not a financial analyst.
what about now?
This is why people shouldn't take financial advice from financial analysts or someone that isn't one.
The AUD is in a year/decade-long downtrend.
https://files.ozbargain.com.au/upload/393946/90765/screensho…
All fiat will go down to the right and eventually lose 99.99% of its value. The 0.01% is when they're turned into handbags.
Do you have any expenses / payments in USD that you can tap these funds for?
If not, I would minimise the risk exposure and take it out on a regular basis.